PEST Analysis Example: Hospitability Industry

Description:

The hospitality industry has high barriers to entry due to the need for considerable capital investment and dominant industry leaders such as Hilton taking advantage of economies of scale. A PEST Analysis is performed to evaluate the current situation of the industry.

What is PEST Analysis?

PEST Analysis is a strategic analysis tool that is used to assess markets for a particular product or a business at a given time frame. PEST is the short form of Political, Economic, Social, and Technological factors. By identifying and studying these factors, organisations can take appropriate decisions for business improvement.

How to perform PEST Analysis?

You can perform PEST Analysis easily with Visual Paradigm Online. Here are several quick steps:

  1. Create a PEST Analysis diagram.
  2. Create a PEST table.
  3. Identify the four factors that influence your business and list them in the corresponding compartments.
  4. Once your diagram is complete, you can save it (File > Save as) to our cloud repository for future access. You can also export your work into image (JPG, PNG, PDF, SVG, etc) and share it with your co-workers.

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